49. Which of the following statements regarding the legal authority of secondary sources of tax law is NOT correct?

A)

Secondary sources of tax law have no legal authority.

B)

As official interpretations of law, secondary sources of tax law have a weight of authority that is equal to that of the tax laws themselves.

C)

Secondary sources of tax law have quasi-legal authority.

D)

Secondary sources of tax law have expected legal authority.

50. Which of the following is NOT a primary objective of the federal tax law system?

A)

Economic growth and development

B)

Political stability

C)

Price stability

D)

Raising revenue

51. A taxpayer intentionally underreported his self-employment income. The additional tax due is $20,000. What is the likely penalty for which the taxpayer will be liable?

A)

$15,000

B)

$20,000

C)

$2,000

D)

$4,000

52. Which of the following is NOT part of the IRS audit process?

A)

Correspondence audit

B)

Discriminant Function System Program

C)

Targeted Programs audit

D)

National Measurement Compliance Research Program